JPMorgan Chase & Co. Raises Paycom Software (NYSE:PAYC) Price Target to $175.00

Paycom Software (NYSE:PAYC) had its price target increased by equities researchers at JPMorgan Chase & Co. from $165.00 to $175.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the software maker’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 6.63% from the company’s current price.

A number of other research analysts have also recently issued reports on PAYC. UBS Group increased their target price on shares of Paycom Software from $235.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, January 10th. Citigroup lowered their target price on Paycom Software from $205.00 to $198.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 31st. Jefferies Financial Group reiterated a “hold” rating and issued a $195.00 target price on shares of Paycom Software in a research report on Friday, January 5th. BTIG Research assumed coverage on shares of Paycom Software in a report on Tuesday, February 6th. They issued a “neutral” rating for the company. Finally, Piper Sandler lifted their price target on Paycom Software from $185.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, February 8th. Seventeen analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $257.76.

Paycom Software Trading Down 11.9 %

Shares of NYSE:PAYC traded down $22.12 during midday trading on Thursday, hitting $164.12. The stock had a trading volume of 1,384,376 shares, compared to its average volume of 850,500. Paycom Software has a 1 year low of $146.15 and a 1 year high of $374.04. The stock has a 50 day moving average price of $189.91 and a two-hundred day moving average price of $195.35. The company has a market capitalization of $9.45 billion, a PE ratio of 27.93, a P/E/G ratio of 3.21 and a beta of 1.17.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings results on Wednesday, February 7th. The software maker reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.15. Paycom Software had a return on equity of 24.60% and a net margin of 20.12%. The firm had revenue of $434.60 million for the quarter, compared to the consensus estimate of $422.50 million. During the same period in the previous year, the business earned $1.38 earnings per share. The company’s revenue for the quarter was up 17.3% compared to the same quarter last year. As a group, equities analysts expect that Paycom Software will post 5.73 EPS for the current year.

Institutional Investors Weigh In On Paycom Software

Several institutional investors and hedge funds have recently modified their holdings of PAYC. Mather Group LLC. bought a new position in shares of Paycom Software in the first quarter valued at approximately $26,000. Hexagon Capital Partners LLC raised its holdings in Paycom Software by 333.3% in the 4th quarter. Hexagon Capital Partners LLC now owns 130 shares of the software maker’s stock worth $27,000 after acquiring an additional 100 shares during the period. Palisade Asset Management LLC bought a new position in Paycom Software in the 1st quarter worth $32,000. Cary Street Partners Investment Advisory LLC lifted its position in shares of Paycom Software by 83.5% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 156 shares of the software maker’s stock worth $40,000 after purchasing an additional 71 shares during the last quarter. Finally, Transcendent Capital Group LLC acquired a new position in shares of Paycom Software during the 4th quarter worth about $41,000. Institutional investors and hedge funds own 87.77% of the company’s stock.

About Paycom Software

Paycom Software, Inc provides cloud-based human capital management (HCM) solution delivered as software-as-a-service for small to mid-sized companies in the United States. It offers functionality and data analytics that businesses need to manage the employment life cycle from recruitment to retirement.